Sheets Smith Investment Management Takes Position in Clearwater Analytics Holdings, Inc. (NYSE:CWAN)

Sheets Smith Investment Management bought a new stake in shares of Clearwater Analytics Holdings, Inc. (NYSE:CWAN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 49,368 shares of the company's stock, valued at approximately $1,359,000.

A number of other hedge funds also recently made changes to their positions in the business. Principal Financial Group Inc. raised its holdings in shares of Clearwater Analytics by 1,600.9% in the 4th quarter. Principal Financial Group Inc. now owns 1,442,218 shares of the company's stock worth $39,690,000 after purchasing an additional 1,357,425 shares during the period. Loomis Sayles & Co. L P raised its stake in shares of Clearwater Analytics by 11.1% in the third quarter. Loomis Sayles & Co. L P now owns 3,294,482 shares of the company's stock valued at $83,186,000 after buying an additional 327,880 shares during the period. Swiss National Bank raised its stake in shares of Clearwater Analytics by 8.5% in the third quarter. Swiss National Bank now owns 312,900 shares of the company's stock valued at $7,901,000 after buying an additional 24,600 shares during the period. Stephens Investment Management Group LLC lifted its position in shares of Clearwater Analytics by 189.5% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,269,121 shares of the company's stock valued at $34,926,000 after buying an additional 830,684 shares during the last quarter. Finally, Moody Aldrich Partners LLC grew its stake in shares of Clearwater Analytics by 32.4% during the 4th quarter. Moody Aldrich Partners LLC now owns 386,424 shares of the company's stock worth $10,634,000 after acquiring an additional 94,454 shares during the period. 50.10% of the stock is currently owned by institutional investors.

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Clearwater Analytics Trading Down 1.9 %

Clearwater Analytics stock traded down $0.52 during trading hours on Friday, reaching $26.51. The company had a trading volume of 1,370,390 shares, compared to its average volume of 2,024,213. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 8.23 and a beta of 0.69. Clearwater Analytics Holdings, Inc. has a 12-month low of $15.62 and a 12-month high of $35.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.66 and a quick ratio of 4.66. The company has a 50-day moving average price of $28.28 and a 200 day moving average price of $27.88.

Clearwater Analytics (NYSE:CWAN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.07). The business had revenue of $126.47 million for the quarter, compared to analysts' expectations of $120.34 million. Clearwater Analytics had a net margin of 93.97% and a return on equity of 7.11%. Equities analysts forecast that Clearwater Analytics Holdings, Inc. will post 0.18 earnings per share for the current year.

Insider Buying and Selling

In related news, CRO Scott Stanley Erickson sold 76,256 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $30.07, for a total value of $2,293,017.92. Following the sale, the executive now directly owns 78,363 shares of the company's stock, valued at $2,356,375.41. This represents a 49.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO James S. Cox sold 18,700 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $26.94, for a total transaction of $503,778.00. Following the completion of the transaction, the chief financial officer now owns 279,857 shares of the company's stock, valued at approximately $7,539,347.58. The trade was a 6.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 644,510 shares of company stock valued at $18,688,862 over the last quarter. 4.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

CWAN has been the topic of a number of analyst reports. Oppenheimer boosted their target price on shares of Clearwater Analytics from $35.00 to $40.00 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. Piper Sandler upgraded Clearwater Analytics from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $28.00 to $36.00 in a research note on Thursday, February 20th. Wells Fargo & Company raised their target price on Clearwater Analytics from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Royal Bank of Canada lifted their target price on Clearwater Analytics from $30.00 to $36.00 and gave the company an "outperform" rating in a report on Thursday, February 20th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $36.00 price target (up from $34.00) on shares of Clearwater Analytics in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.80.

About Clearwater Analytics

Clearwater Analytics Holdings, Inc develops and provides a Software-as-a-Service (SaaS) solution for automated investment data aggregation, reconciliation, accounting, and reporting services to insurers, investment managers, corporations, institutional investors, and government entities in the United States and internationally.